Aigen Investment Management LP Has $213,000 Position in International Paper (NYSE:IP)

Aigen Investment Management LP trimmed its holdings in shares of International Paper (NYSE:IP) by 64.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,956 shares of the basic materials company’s stock after selling 7,282 shares during the period. Aigen Investment Management LP’s holdings in International Paper were worth $213,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in International Paper during the third quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in shares of International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of International Paper during the 4th quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at approximately $28,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of International Paper in the third quarter valued at $28,000. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 1.3 %

Shares of NYSE:IP opened at $52.39 on Monday. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The business has a 50 day moving average of $55.49 and a 200-day moving average of $53.30. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a market cap of $27.56 billion, a PE ratio of 33.37, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.53%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analysts Set New Price Targets

Several analysts have issued reports on IP shares. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Truist Financial reissued a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.86.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.